After the currency pair tested the weekly resistance level at 0.6579, bearish traders pressured the pair lower. The New Zealand Dollar declined by 36 points or 0.55% against the US Dollar on Tuesday.
Technical indicators suggest buying signals on the daily time-frame chart. Therefore, bulls could pressure the NZD/USD exchange rate towards the weekly R1 at 0.6579 today.
However, the 50– period simple moving average at 0.6548 could provide resistance for the currency exchange rate during the following trading session.
